Broker Price Opinion
BPO REO Automation Utility
The Visionet’s BPO REO Automation Utility maximizes your speed, productivity, and accuracy by automatically filling in BPO forms with your sold, list, subject comp data and as well as 90% of the market and neighborhood fields. The BPO, or Broker Price Opinion, is a tool used by lenders and mortgage companies to value properties in situations where they believe the expense and delay of an appraisal is not necessary. Real estate brokers are given an order to do a BPO by the lender, Mortgage Company or loss Mitigation Company. Everyday thousands of BPO reports are assigned to brokers for value estimation of a particular property. These reports are usually of 2-3 pages in size and most of the time filled on some online form. The data entry fields in these forms vary between 200-250 fields per report and the broker normally takes between 60 to 90 minutes to do one order.
BPO REO Automation utility will automatically populate the fields of a form and reduce the current standard data entry time from 60 minutes to less than 30 seconds. Rest of the order related work can be done in 10 minutes thus allowing the person doing the orders to complete around five times the work he would have done in the same time; above that, the quality of output work is 100%.